Tag: Moratorium
Director was not guilty of offence u/s 138 of NI Act in view of initiation of insolvency proceedings and moratorium order – Supreme Court In a recent judgment, the Hon’ble Supreme Court quashed the complaint case under Section 138 of Negotiable Instruments Act, 1881 against the director for …
Moratorium under IBC for prohibiting activities not to apply where corporate debtor has entered into specified transactions, arrangements or agreements MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 14th June, 2023 S.O. 2660(E).—In exercise of the powers conferred by clause (a) of sub-section (3) of section 14 of …
No interest on interest/compound interest/penal interest for moratorium period from any borrowers irrespective of sanctioned loan limit – Supreme Court ABCAUS Case Law CitationABCAUS 3475 (2021) (03) SC Important case law relied referred:Union Carbide Corporation Limited v. Union of India, (1991)4 SCC 584;M. Nagaraj vs. Union of India …
Govt. notifies scheme of merges of LVB with DBS Bank. Read how depositors and creditors shall be treated Due to the rapidly deteriorating financial position of the Lakshmi Vilas Bank Limited, the Reserve Bank had placed the bank under moratorium. In the interest of the public …
Govt. grants moratorium to Lakshmi Vilas Bank. Read restrictions imposed and limit of payments to depositor, release of securities etc. The Central Government has ordered moratorium to the Lakshmi Vilas Bank Limited, Karur, Tamil Nadu for the period from 17th day of November, 2020 up to 16th day …
Extension of moratorium on Term Loans EMI, deferment of Interest on Working Capital facilities by further 3 months from 01.06.2020 to 31.08.2020 Earlier, RBI on 27th March, 2020 has issued an Statement setting out various developmental and regulatory policies addressing the stress in financial conditions caused by COVID-19 …
RBI COVID19 Regulatory Package – Relaxation in Asset Classification & Provisioning RESERVE BANK OF INDIA RBI/2019-20/220DOR.No.BP.BC.63/21.04.048/2020-21 April 17, 2020 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks)All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative BanksAll All-India …
Moratorium u/s 14 of the Insolvency and Bankruptcy Code, 2016 not apply to a personal guarantor of a corporate debtor – Supreme Court ABCAUS Case Law Citation: ABCAUS 2467 (2018) 08 SC The instant appeal involved the question whether Section 14 of the Insolvency and Bankruptcy Code, 2016 …
